Minghong (明汯投资)

Most Chinese quant houses guard their distribution as closely as their signals. Minghong went the other way: it was the first to push its products at scale through major securities firms and private banks, and that distribution-led approach made it the first Chinese quant fund to pass 100 billion yuan in assets.

Founder Qiu Huiming came back from Millennium Management in the U.S. with a physics PhD from Penn and built a systematic, deep-learning operation across stocks, futures and options, running its own GPU clusters and in-house training and inference frameworks. This is the firm's Shenzhen office, one node in a network anchored in Shanghai.